Common use of REDUCTIONS OR TERMINATIONS Clause in Contracts

REDUCTIONS OR TERMINATIONS. If life insurance on a reinsured policy is reduced, the reduction shall be applied first to the reinsured portion, among all reinsurers in accordance to their percentages. If life insurance on a reinsured policy is terminated, then reinsurance will cease on the date of such termination. Reductions and terminations are permitted only when the underlying policyholder directs such a reduction or termination of the issuing company policy that is in force at the time that the reductions and terminations take place.

REDUCTIONS OR TERMINATIONS. If life insurance on a reinsured policy is reduced, then reinsurance will be reduced proportionately so that the reduction shall be applied first to portion reinsured, remains the reinsured portion, among all reinsurers in accordance to their percentagessame. If life insurance on a reinsured policy is terminated, then reinsurance will cease on the date of such termination. Reductions and terminations are permitted only when the underlying policyholder directs such a reduction or termination of the issuing company policy that is in force at the time that the reductions and terminations take place.

REDUCTIONS OR TERMINATIONS. If life insurance on a reinsured policy is reduced, then reinsurance will be reduced proportionately so that the reduction shall be applied first to portion reinsured, as outlined in Section 2 of Schedule A, remains the reinsured portion, among all reinsurers in accordance to their percentagessame. If life insurance on a reinsured policy is terminated, then reinsurance will cease on the date of such termination. Reductions and terminations are permitted only when the underlying policyholder directs such a reduction or termination of the issuing company policy that is in force at the time that the reductions and terminations take place.